Right Start Stock Sale Grosses $11.5 Million

The Right Start Inc., a mail-order marketer of children’s merchandise, has completed an initial public stock offering that provided the Westlake Village company with $11.5 million in gross proceeds.

Two million common shares of Right Start were offered to the public last week for $5.75 a share.

The stock was offered by American Recreation Centers Inc., a Sacramento-based concern that formerly owned all of Right Start. The 2 million shares represented 33% of American Recreation’s ownership, leaving the company with a 67% stake in Right Start.

Right Start plans to use the offering’s proceeds for expansion and to pay a $2.7-million dividend to American Recreation.